Market Overview
The connected mobility solutions market is growing at a rapid pace, mainly due to the proliferation of connected vehicles. The automotive industry is undergoing a major shift, embracing new mobility concepts that rely heavily on software, connectivity, and artificial intelligence. Resultantly, the demand for capabilities that can meet modern digital business needs is growing too.
Changing government mandates for the development of safe, connected cars, electric vehicles, and autonomous vehicles boosts the market size. By 2022, all new vehicles are expected to be connected to the internet. There is significant value in using data from connected vehicles to derive insights and intelligent solutions for various stakeholders in the mobility ecosystem. Subsequently, recent upgrades in connected mobility solutions foster the market valuation.
Market Research Future (MRFR) states that the global connected mobility solutions market is expected to witness significant gains by 2027, registering an impressive CAGR throughout the review period (2020 – 2027). Additionally, the rising demand for smarter mobility by organizing trillions of data points for vehicles globally, across multiple brands, makes & models, and then standardizing & enhancing those streams of data on a vast scale pushes the market growth.
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Global Connected Mobility Solutions Market –Segments
The connected mobility solutions market analysis is segmented into technology, application, connectivity, and region. The technology segment is sub-segmented into Wi-Fi, Bluetooth, 4G/LTE and 5G. The application segment is sub-segmented into navigation and telematics.
The sub-segment navigation is further bifurcated into road & vehicle monitoring, real-time data capturing & management. The sub-segment telematics is further bifurcated into in-car, car-to-car, and car-to-infrastructure.
The connectivity segment is sub-segmented into tethered connectivity, integrated connectivity, and embedded connectivity. By regions, the market is sub-segmented into the Asia Pacific, Americas, Europe, and rest-of-the-world.
Global Connected Mobility Solutions Market – Geographical Analysis
North America leads the global connected mobility solutions market. The largest market growth attributes to the increasing adoption of the internet of things and automobile companies in the US and Canada in this region. Moreover, the rising efforts of automakers in discovering new technologies to eliminate accidents and give a safe journey experience influence the region’s market share.
Large technological advances and the presence of various connected mobility solution providers in the region influence the market growth. Besides, the futuristic infrastructure in the region drives the market growth, bringing about advanced connected mobility platforms.
Europe stands second in the global connected mobility solutions market. The market is driven by rising technical expertise and enormous investments in developing technologies and integrated connectivity and embedded connectivity. Additionally, rapid advances in digital technology and increasing demand for connected mobility solutions positively impact regional market growth.
The Asia Pacific connected mobility solutions market is emerging as a promising market globally. Factors such as the augmenting demand for connected mobility solutions from the automotive sectors and increasing adoption of smart & electric vehicles among people drive the regional market growth. Connected mobility solutions markets in China, Japan, and India are growing exponentially, increasing the overall share of the regional market.
Global Connected Mobility Solutions Market – Competitive Analysis
Fiercely competitive, the connected mobility solutions market witnesses a large presence of notable players. Players focus on product development and incorporate strategic approaches, such as collaboration, mergers & acquisitions, product launch, and expansion to gain a larger competitive share. They make substantial investments to drive R&D for the development of required technologies and expansion.
Major Players:
Players leading the global connected mobility solutions market include Robert Bosch GmbH (Germany), Mitsubishi Motors Corporation (Japan), Siemens AG (Germany), Nokia Networks (Finland), Cisco System Inc (US), Molex Incorporated (US), HUBER+SUHNER (Switzerland), Deutsche Telekom AG (Germany), and NXP Semiconductors NV (Netherlands), among others.
Industry/Innovation/Related News:
March 26, 2021 ---- IT services major Cognizant Technology Solutions Corp. announced the acquisition of Germany-based ESG Mobility, a digital automotive engineering solutions provider for connected, autonomous and electric vehicles. The acquisition would expand Cognizant’s automotive engineering expertise, particularly in connected vehicles.
March 24, 2020 ---- Goodyear announced its plans to expand its new mobility development efforts through new collaborations with a US-based connected-car technology company and a European car-rental firm specializing in electric vehicles. The collaboration in the US is with San Francisco-based Voyomotive L.L.C., allowing Goodyear to pilot tire-monitoring solutions for more efficient vehicle operations.
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Table of Contents
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Market Structure
Continued…
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